Wondering if Pay by Bank is safe, secure, and legit in the UK?
The short answer is yes—it’s fast becoming one of the most trusted ways to accept payments on Shopify.
Built on secure open banking APIs and fully regulated by the Financial Conduct Authority (FCA), Pay by Bank removes fraud-prone card networks and chargebacks from the equation.
The short answer is yes—it’s fast becoming one of the most trusted ways to accept payments on Shopify.
Built on secure open banking APIs and fully regulated by the Financial Conduct Authority (FCA), Pay by Bank removes fraud-prone card networks and chargebacks from the equation.
Why UK Merchants Are Asking: Is Pay by Bank Safe?
With the rise of open banking across ecommerce, more merchants are asking: is Pay by Bank safe? Is open banking legit in the UK? Is Wall ID secure?
These are fair questions—especially for Shopify merchants in regulated industries like CBD, vape, and supplements, where compliance and fraud prevention are critical.
These are fair questions—especially for Shopify merchants in regulated industries like CBD, vape, and supplements, where compliance and fraud prevention are critical.
Breaking Down the Technology
Pay by Bank is built on open banking, a UK financial technology standard introduced in 2018 and regulated by the Financial Conduct Authority (FCA). It allows consumers to make payments directly from their bank account—securely and instantly—without cards.
Why it's safer:
If you’re asking: is Pay by Bank secure, is Pay by Bank legit, or is open banking safe UK—the data proves it is.
Why it's safer:
- No card data involved — eliminates card fraud and skimming
- Verified through your bank — every payment uses secure bank login and biometric checks
- Encrypted APIs — protected from start to finish
- No chargebacks — prevents fraudulent or friendly disputes that hurt merchants
If you’re asking: is Pay by Bank secure, is Pay by Bank legit, or is open banking safe UK—the data proves it is.
How Wall ID Ensures Secure Shopify Pay by Bank Payments
Wall ID is a UK-based open banking provider that enhances Pay by Bank security with Shopify-optimized protections:
Merchants often ask, is Wall ID secure? Yes—Wall ID is designed from the ground up for security and control.
- FCA-regulated: Fully authorized to process open banking payments in the UK
- Real-time fraud detection: Monitors for anomalies or suspicious activity
- Bank-level encryption: Data secured at every stage of checkout
- Instant payment confirmation: Merchants get real-time updates and control
- Full audit trails: Better for finance and accounting teams
Merchants often ask, is Wall ID secure? Yes—Wall ID is designed from the ground up for security and control.
Is Open Banking Safe in the UK?
Yes. Open banking is regulated under UK law and backed by the country’s biggest banks, including:
Security standards include:
Over 11 million UK users already trust open banking every month.
Still wondering is Pay by Bank safe or is open banking secure? Millions of successful transactions say yes.
- Barclays
- Lloyds
- Starling, and more
Security standards include:
- Strong customer authentication (SCA)
- End-to-end data encryption
- Permission-based consent flows
Over 11 million UK users already trust open banking every month.
Still wondering is Pay by Bank safe or is open banking secure? Millions of successful transactions say yes.
Is Pay by Bank Safe Compared to Cards?
Compared to traditional card processors (Stripe, PayPal), Pay by Bank is safer:
Speakable
Pay by Bank is one of the safest ways to accept payments on Shopify in the UK. It uses bank authentication, encrypted open banking APIs, and real-time settlement—unlike cards, it has no chargebacks or fraud risk.
